Here is an interesting analysis of the current real estate market in Palmer and Wasilla. Dave Johnson just gave me a copy of this today and I thought it interesting enough to share.
Notice that the beginning of 2017 started with inventory down compared to last year. I noted that several times in my weekly market update. (If you don’t get the Market Memo send me a note and I’ll put you on the list).
The inventory was down at the beginning of the year and the total pendings were also down a little. That made the supply/demand ratio about even with the year before.
Now the inventory is up higher than last year and the pendings are about the same as the year before. If you notice just last week’s market memo I comment on the fact that current numbers look very similar to last year except that inventory is up.
So, although demand is almost as high as last year, the inventory is up which makes the ratio of supply to demand greater than it was the year before.
In other words…there are more sellers competing for the same amount of buyers.
